Sedemac Mechatronics IPO Subscribed 2.7x on Final Day; Grey Market Premium Turns Negative

The initial public offering of Sedemac Mechatronics managed to achieve full subscription on the final day of bidding, mainly supported by strong participation from institutional investors.

According to data available on the Bombay Stock Exchange (BSE) platform, the IPO received bids for 1,51,10,909 shares against the total offer size of 56,32,899 shares, resulting in an overall subscription of around 2.68 times.

The public issue had seen relatively modest interest earlier, with the IPO subscribed only about 46% by the end of the second day.

Category-wise Subscription

Demand varied significantly across investor categories.

Qualified Institutional Buyers (QIBs): 8.46 times

Non-Institutional Investors (NIIs): 0.77 times

Retail Individual Investors (RIIs): 0.20 times

Employee Reservation: 2.95 times

Institutional investors largely drove the subscription numbers, while participation from retail investors remained comparatively limited.

Sedemac Mechatronics IPO GMP Today

The grey market sentiment for the IPO weakened sharply on the final day.

According to market trackers, the grey market premium (GMP) for the issue dropped into negative territory. The GMP was reported at –₹18, indicating that the shares were trading at a discount in the unofficial market.

Based on the current grey market trend, the expected listing price could be around ₹1,334 per share, which is approximately 1.33% lower than the upper price band.

Just a few days earlier, on March 4, the GMP had reportedly touched ₹55, indicating a significant shift in market sentiment.

IPO Details

The ₹1,087 crore IPO opened for subscription earlier this week with a price band of ₹1,287 to ₹1,352 per share.

At the upper end of the price band, the offering values the company at close to ₹6,000 crore.

Before the public issue opened, the company had already raised ₹326 crore from anchor investors.

The entire IPO is structured as a 100% offer-for-sale (OFS), involving the sale of 80,43,300 equity shares by promoters and existing investors.

Promoters Manish Sharma and Ashwini Amit Dixit, along with several institutional investors, are selling their shares in the offering.

Since the issue is purely an OFS, the company itself will not receive any funds from the IPO proceeds

The initial public offering of Sedemac Mechatronics managed to achieve full subscription on the final day of bidding, mainly supported by strong participation from institutional investors. According to data available on the Bombay Stock Exchange (BSE) platform, the IPO received bids for 1,51,10,909 shares against the total offer size of 56,32,899 shares, resulting in an overall subscription of around 2.68 times. The public issue had seen relatively modest interest earlier, with the IPO subscribed only about 46% by the end of the second day.

Category-wise Subscription

Demand varied significantly across investor categories. Qualified Institutional Buyers (QIBs): 8.46 times Non-Institutional Investors (NIIs): 0.77 times Retail Individual Investors (RIIs): 0.20 times Employee Reservation: 2.95 times Institutional investors largely drove the subscription numbers, while participation from retail investors remained comparatively limited.

Sedemac Mechatronics IPO GMP Today

The grey market sentiment for the IPO weakened sharply on the final day. According to market trackers, the grey market premium (GMP) for the issue dropped into negative territory. The GMP was reported at –₹18, indicating that the shares were trading at a discount in the unofficial market. Based on the current grey market trend, the expected listing price could be around ₹1,334 per share, which is approximately 1.33% lower than the upper price band. Just a few days earlier, on March 4, the GMP had reportedly touched ₹55, indicating a significant shift in market sentiment.

IPO Details

The ₹1,087 crore IPO opened for subscription earlier this week with a price band of ₹1,287 to ₹1,352 per share. At the upper end of the price band, the offering values the company at close to ₹6,000 crore. Before the public issue opened, the company had already raised ₹326 crore from anchor investors. The entire IPO is structured as a 100% offer-for-sale (OFS), involving the sale of 80,43,300 equity shares by promoters and existing investors. Promoters Manish Sharma and Ashwini Amit Dixit, along with several institutional investors, are selling their shares in the offering. Since the issue is purely an OFS, the company itself will not receive any funds from the IPO proceeds